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If you own The Platinum Card® from American Express, don’t forget that you can enjoy an annual $100 Saks Fifth Avenue statement credit. This relatively new benefit helps add more value beyond the already highly valuable airline and Uber travel credits.

Learn more: Johnny Jet Recommended Credit Cards

American Express divides the $100 statement credit into two $50 sub credits.

You can earn the first $50 statement credit by making at least $50 in Saks Fifth Avenue or Saks.com purchases between the months of January and June. American Express offers the other $50 credit during the last six months of the calendar year.

This card’s annual fee is $550 (See Rates & Fees).

Saks Statement Credit Terms and Conditions

It’s pretty easy to earn this statement credit (you only have to shop at Saks Fifth Avenue online or in-person). But there are two items to be aware of:

  • You must enroll before making eligible purchases
  • Gift card purchases and outlet store purchases are ineligible

Purchases can be made by the primary or any authorized users. As long as you (or they) buy new merchandise, American Express covers your first $50 every six months.

Other Exciting Amex Platinum Benefits

The $100 Saks statement credit isn’t the only card benefit you might not use regularly. There are several other little-known Platinum Card benefits that you might sparingly use.

You can also enjoy By Invitation Only curated member experiences that range from sporting, fashion, and fine dining events. Of course, you can also use the Platinum Concierge and Global Dining Collection to enjoy a unique experience that doesn’t necessarily require you to travel away from home.

Besides the Saks Fifth Avenue statement credit, travel credits, and 1:1 Membership Rewards airline transfer partners including Aer Lingus AerClub and Avianca LifeMiles. Earn 5x Membership Rewards® Points for flights booked directly with airlines or with American Express Travel. Starting January 1, 2021, earn 5x points on up to $500,000 on these purchases per calendar year. Cardholders also earn 5x points on prepaid hotel bookings through amextravel.com.

Of course, you can continue transferring your miles to other frequent flyer programs including Delta, Emirates, JetBlue, and British Airways.

Summary

While the $100 Saks Fifth Avenue statement credit isn’t the only reason to own the Platinum Card from American Express, it’s an easy way to get “free money” from American Express if you’re a regular customer. Plus, it’s another way to squeeze more value from one of the most rewarding premium travel credit cards currently available.

Learn more: Johnny Jet Recommended Credit Cards

For rates and fees of The Platinum Card® from American Express, please click here.

Johnny Jet Editorial
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Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.

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